This volume is essential reading for anyone involved in project finance in Latin American. It contains lessons that will be valuable to anyone working on project finance in the developing world. From the author of the best-selling Project Finance: Practical Case Studies, this book comprises a series of case studies spread across the markets and sectors of the region and offers a detailed examination of developments in project finance in Latin America.

An introductory chapter describes recent regional and country trends plus a summary of the principal findings and lessons learned from the case studies. Across mining, oil and gas, power, telecommunications, transport and water and sewerage projects, the book examines topics including financing methods and structures, country, markets and operational risks and their mitigation.

Among the case studies are the Ocensa pipeline project in Colombia, the Aguas Provinciales de Santa Fe water treatment project in Argentina, and the Samalayuca II power plant in Mexico.

Contents

Introduction

Chapter 1 Mining 17
1. El Abra Copper mine, Chile 19

Chapter 2 Oil and Gas 27
2. Oleoducto Central SA (Ocensa) Pipeline, Colombia
3. Phoenix Park Gas Processors Limited Natural gas processing plant, Trinidad and Tobago
4. Petrozuata Crude oil production and upgrading, Venezuela

29
41
53

Chapter 3 Power plants 73
5. Serra da Mesa Hydroelectric power plant, Brazil
6. TermoAndes and InterAndes Power plant and transmission line, Argentina and Chile
7. TermoEmcali Power plant, Colombia
8. Puerto Quetzal Power Corporation Barge-mounted power plant, Guatemala
9. Samalayuca Power plant, Mexico
10. Merida Power plant, Mexico

75
81
85
101
113
123

Chapter 4 Telecommunications 127
11. Ancel Cellular telephone system, Uruguay

129

Chapter 5 Transport 139
12. SCL Terminal Aéreo Santiago SA Air terminal, Chile
13. Ferrovias Guatemala Railroad, Guatemala
14. PYCSA Panama Toll road, Panama

141
149
159

Chapter 6 Water and sewerage 171
15. Aguas Provinciales de Santa Fe Water and sewerage, Argentina

173

Glossary 185